So far, on the 1W, 1D, and 4H charts, and we see the same patterns emerge. We see a bearish reversal candlestick pattern at current level now, which needs to be confirmed near area of value (this could be a fibonacci resistance level, or a current trendline). So we will pay attention to the candlesticks between $11.50 - $12.25, and if we see any pattern emerge that looks like a pivot point or a reversal pattern, it may be time to act.
From what I can see, the long term channel is unlikely to reverse, so we should see it stay within the channel, but beware of any changes in the structure - accompanied by a reversal pattern, this would be a reason to be worried about a reversal.
Another view from previous hours in the same trend channel.
From what I can see, the long term channel is unlikely to reverse, so we should see it stay within the channel, but beware of any changes in the structure - accompanied by a reversal pattern, this would be a reason to be worried about a reversal.
Another view from previous hours in the same trend channel.
Uwaga
Chainlink apparently did not want to stay in this trend afterall.Uwaga
Chainlink just went through a LIVE Short Squeeze, where Hundreds of Millions of $$$ were liquidated in minutes. There was 1 trade alone, that had put 22Million on the table, and borrowed another 15Million, that had a liquidation price of $11.79... Ouch!That money is all gone. There were several more just like it.
Uwaga
A little worried about this pattern developing...Uwaga
Aaaand there it goes
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